Purchasing Officer Interview Questions & Answers

Are you a commerce graduate with knowledge in Ms-Excel, S.A.P Packages? Are you knowledgeable enough reviewing prices, ensuring qualities then log onto to www.wisdomjobs.com. Purchasing Officer needs to maintain records of goods ordered and received. PO should locate vendors of materials, equipment or supplies and interview them in order to determine product availability and terms of sales. Prepare and process requisition and purchase orders for supplies and equipment. PO should establish relationship and serve as representative of the company when negotiating contracts and building vendor and supplier trust as well as track and monitor the delivery and confirmation of all materials and supplies. So place yourself in Marketing, Industrial, Construction, Corporate sectors by looking into Purchasing Officer job interview question and answers given.

The term "and/or" should not be used in agreements. Ambiguity arises when this term is used because of the many possible variations this term can create. It is more exact to use the terms "and" and "or" separately. The term "and" means both, the term "or" means either.

A bidding procedure usually consisting of two competitive steps. Step one consists of a technical proposal for furnishing the product or service and the second step consists of a comparison of costs. Bidding then proceeds as in conventional sealed bid procedures.

Purchasing cards are a purchasing tool many progressive companies use to purchase and pay for low dollar purchases. Purchasing cards reduce the cost of doing business while preserving purchasing controls.

A small business which is owned or controlled by a majority of persons, not limited to members of minority groups, who have been deprived of the opportunity to develop and maintain a competitive position in the economy because of social disadvantages.

The Uniform Commercial Code (UCC) allows for the award of requirements contracts, which do not state any particular quantity. However, a requirements contract is only valid if the contract is awarded in "good faith." Sellers will normally ask for the contract to have an estimated quantity or a quantity range.

CPM (Cost Per Impressions) is the cost per thousand a web site charges for an advertisement on a web site page. Internet advertising is typically sold on a CPM basis. An impression occurs when a visitor to a web site views a page where an ad is displayed. A $25 cpm rate represents $25 per 1,000 displays of a web site page where an ad is displayed.

When checking supplier references, you need to collect as much information as possible to help you make a wise decision. You should interview at least three references and engage them in conversation. Verify all the information you already have about the supplier. Find out the scope of the project and how long the contract was for.

A prime source for finding new suppliers is the XYZ Register. The XYZ Register lists manufacturers by product categories and geographic location. XYZ Register supplier information can be obtained online from their website (its free), a set of their cds which can be networked within a company, and their set of catalogs. Another good source for finding suppliers is through Trade Associations, most can be accessed online. Internet search engines such as google.com which can be used to search for specific products, commodities or companies.

Inventory turns is the annual cost of the inventory issued divided by the average monthly inventory value.

The average monthly inventory value is calculated by adding the past 12 monthly inventory values and dividing the total by 12. At the end of each subsequent month, add the latest month's inventory value and delete the 12th most distant monthly inventory value.

The annual cost of issues is calculated by adding the past 12 monthly cost of inventory issues. At the end of each subsequent month, add the latest month's cost of inventory issues and delete the 12th most distant month.